FRANKFURT, June 12 (Reuters) - Europe’s spot power trading body is to investigate an incident on June 7 when several areas of the integrated market decoupled due to a problem at Paris-based exchange Epex Spot, it said in a statement on Wednesday.
Market coupling allows players to virtually access wholesale power produced anywhere in the region through cross-border interconnectors, creating efficient pricing in line with the European Union’s aim to fully harmonise power markets.
It helps to even out mismatches in electricity supply across countries and has brought together electricity exchanges and transmission grid operators under the supervision of a joint European steering committee since 2014.
But on June 7, an internal IT issue at Epex Spot, part of German energy bourse EEX, prevented some of the exchange’s continental and British order books from being sent to the common system.
The incident affected British, Belgian, Dutch, French, Germany-Luxembourg and Austrian auctions.
“The Joint Steering Committee has today initiated an in-depth investigation of the incident to identify lessons learned to mitigate the risk of similar incidents in the future,” the statement said. (Reporting by Vera Eckert, editing by Emelia Sithole-Matarise)